Company Store We just feel comfortable with them. The German company Bscher started in 1961 as a concrete plant and its business grew with, among others, a container service. Close to home, for example, some of SRM's largest contracts have included the building of the downtown Nashville Convention Center, and the nearby Bridgestone Tower. But that's not to say he isn't involved with SRM's operations. (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. "I want to deal with people I trust and that goes a long way. Alternatively, please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.Smyrna Ready Mix Concrete, LLC is a manufacturer and retailer of ready-mixed concrete in Tennessee, Florida, Kentucky, Ohio, Indiana, Texas, Georgia, Colorado, Alabama, Arkansas, Michigan, South Carolina, North Carolina, Mississippi, Wyoming and Virginia. That acquisition was just one of many that SRM Concrete made over the years as its coffers grew and it identified opportunities to move into new markets. Credit Application Interestingly, the younger Hollingshead said that in 2014, SRM Concrete was able to buy out the ready-mix company that had earlier denied his father the products he needed for his one-man projects, which, in turn, led to the creation of the large multi-service firm. "My main goal is keeping everyone safe," Ryan said. SRM acquires Federal Materials Concrete based in Paducah, Kentucky. SRM acquires Kentucky based All-Rite Ready Mix and Tucker Ready Mix. "It has been a privilege to work with Harper Industries over the past . A sister division, SRM Block, also makes quality concrete block (CMU), architectural block (ACMU) and retaining wall products (SRW). (615) 922-8300 (Espaol), SRM 401(k) Profit Sharing Plan and Trust Annual Notice. "We started here and now consider it our signature quarry for digging limestone that we use to make numerous things, like concrete and asphalt for road construction.". There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Read more. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. About Us The deal was upsized from $515 million and pricing finalized at the wide end of guidance, according to market sources. Following this acquisition, SRM employs over 6,000 team members with locations that span 19 states. Our Team Smyrna Ready Mix prints upsized secured notes to yield 6%; terms, Banking Essentials Newsletter: 5th May Edition, Banking Essentials Newsletter: 19th April Edition, According to Market Intelligence, April 2023, Banking Essentials Newsletter: 5th April Edition. Pro forma for the proposed financing and the bolt-on acquisitions, Moody's projects Smyrna's leverage will be 3.9x at December 31, 2022 (including Moody's adjustments).Over the past three years, Smyrna has materially grown its profitability (organically and through acquisitions), invested in the business, and maintained a disciplined approach to balance sheet management and liquidity." BBB reports on known marketplace practices. Smyrna Ready Mix Concrete, better known as SRM Concrete, offers a range of services, but its concentration on ready-mix, mining and materials production has made it one of the fastest growing operations in the eastern half of the United States. SRM acquires St. Johns River Concrete based in Palatka, Florida. The outlook remains stable.The rating upgrades reflect Moody's expectation of the continued strengthening of Smyrna's credit profile following the successful integration of several bolt-on acquisitions during 2020 and 2021, a larger and more geographically diversified revenue base, greater predictability of free cash flow, and a commitment by the management team to maintain modest leverage.The Ba3 rating assigned to the $650 million senior secured term loan facility maturing in 2029 and to the $1,100 million Senior Secured Notes maturing in 2028, is on par with the CFR reflecting their position as the preponderance of debt in Smyrna's capital structure. In fact, he added, "There is not one complaint against Power Equipment that I could ever make. Contact Us Featured Products 50.69421 \\ 3.17456 \\ 213.32.24.66 \\ Roubaix \\ Hauts-de-France. MOODY'S adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources MOODY'S considers to be reliable including, when appropriate, independent third-party sources. In addition, Moody's credit rating is supported by the company's solid EBITDA margins and commitment to maintain modest leverage and good liquidity. SRM Concrete products are designed to increase the strength, workability, and quality of the concrete our customers receive. MJKK and MSFJ are credit rating agencies registered with the Japan Financial Services Agency and their registration numbers are FSA Commissioner (Ratings) No. For more information about Smyrna Ready Mix Concrete, visit www.smyrnareadymix.com. SRM acquires Florida based Superior Concrete, Xpress Materials, and A-Materials. Through both growth and acquisition, the company has amassed a heavy equipment fleet of more than 400 pieces. Meritain Information From the company's limestone mines, many in Tennessee and Alabama where the rock is abundant, 10 different aggregate sizes are produced, he said, although other products can be created with screen changes. Smyrna Ready Mix Concrete, LLC is a manufacturer and retailer of ready-mixed concrete in Tennessee, Florida, Kentucky, Ohio, Indiana, Texas, Georgia, Alabama, Arkansas, Michigan, South Carolina and Virginia. Established in 1999 by Mike and Melissa Hollingshead in Smyrna, Tennessee, the family-owned company owns and operates an expansive network of ready-mix concrete plants, quarries, cement terminals, and other ancillary services. "At SRM, we consider safety an investment in our employees, and we want to make sure that our people can clock in and out every day. SRM acquires Florida based Griswold Concrete and KMR Concrete. "We crush rock here at Smyrna, but of all our many locations, this plant means more to us because we were born and raised within a quarter mile of this facility," Ryan said. close alert. The J.P. Morgan-led deal launched with a lender call today, and commitments are due at 5 p.m. With its concrete production, SRM concentrates its attention on residential projects, he said, adding that it is working at many large home developments along the East Coast. The largest of four transactions announced April 1 netted 37 central Texas, Colorado and Wyoming sites from Martin Marietta Materials, which had indicated an asset sale agreement with SRM Concrete in mid-March. (615) 355-1028 An unusual choice for most folks, certainly, but Mike did so only because he was often frustrated in getting the materials he needed to run his small concrete business. We list equipment in all the major aggregate categories including conveyors, feeders, stackers, crushers, magnets, screening equipment, washing equipment, and more. CEO, Jeff Hollingshead stated, We are excited to expand into this incredible market. Your IP: Transcript:The Supply Chain Crisis That Could Wreck the Bourbon Industry, Eskom Latest: Outages Intensify; Five CEO Candidates Shortlisted, Corporate America Focuses on Cost Cuts and Layoffs Not Growth, Peru Inflation Falls Below 8%, Supporting Central Bank Ambitions, IMF Chief Says Rising Rates Exposed Banking Vulnerabilities, Blackstones Real Estate Trust Limits Withdrawals for Sixth Straight Month, JPMorgans Venture Arm Makes Fertility Bet in $25 Million Deal, Jack Ma Joins University of Tokyo as Visiting Professor, Snap Hires Former Meta Execsto Bolster Ad Business, The White House Is Probing How Companies Use AI to Surveil and Manage Workers, McCarthy Says He Supports Aid to Ukraine, Urges Russia to Leave, Durbin Promises to Move Ahead With Supreme Court Ethics Legislation Despite Pushback, Dimon Defies Big-Bank Critics, Winning FDIC Auction to Keep Expanding, I Bond Rate Drops to 4.3% asCooling Inflation Drags YieldLower, Whats Trending Today: JPMorgan Buys First Republic, Virginia Tornado, Hollywood Writers Strike, Chinese Tourists, Loyal Wynn Guests Key for NewUAE Resort, Officials Say, JPMorgan Jumps to the Rescue at First Republic For a Price, If the BankingCrisis Offers One Lesson, Let It Be This, JPMorgan, First Republic and the Curse of the SecondBest, The Boring Old Box Truck Gets the Tesla Treatment, For Banks Under Stress, Theres a Federal Backstop That Provides Help Without Stigma, What the US Can Learn From Europes ESG Mistakes, Trump Is Denied Mistrial Over Unfair Rulings in E. Jean Carroll Case, Workers Well-BeingTops Agenda at Annual Shareholder Meetings, Bara DitchingPrivate Jet for Train Points toGreener Football, What to Know About Red-Flag Warnings, an Ominous WildfireForecast, Germany Sets the New Standard for Cheap, National Mass Transit, Chinas Now Spurning Ugliest Buildings That Symbolized Its Meteoric Rise, Broke Chinese Gen Zs Turn Factory Town into Top Tourist Spot, Nigerias SEC Plans to Allow Asset-Backed Tokens But Not Crypto, Bitcoin Sags After its Longest Streak of Monthly Gains Since 2021, Bitcoin on Course for Longest Streak of Monthly Gains Since 2021. At-a-glance. SRM acquires North Alabama based Keenum Concrete. Locations Locations SMYRNA READY MIX CONCRETE LLC : DBA Name: SRM CONCRETE - PIQUA CONCRETE - SRM JONES AND STONE DRILLING - HOLLINGSHEAD CEMENT : Physical Address: 1000 HOLLINGSHEAD CIRCLE MURFREESBORO, TN 37129 Phone: (615) 355-1028 Mailing Address: 1136 SECOND AVE NORTH NASHVILLE, TN 37208 USDOT Number: 1738904 : State Carrier ID Number: content Making sure SRM Concrete follows safe practices within its various divisions is something that has proven to be a demanding task, considering the far-flung nature of the company, its vast number of employees and the type of work that is performed. info@smyrnareadymix.com 2023, International Association of Better Business Bureaus, Inc., separately incorporated Better Business Bureau organizations in the US, Canada and Mexico and BBB Institute for Marketplace Trust, Inc. All rights reserved. SRM acquires concrete company in Danville, Kentucky.